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in order to engage washington and the national media is you should apply it to the fiscal cliff. and i thought to myself at the reagan library what better place to go back to first principles. and since i've written now three novels on george washington, what better pattern than to weave these two giants, ronald reagan after whom the soviet empire disappeared, and george washington after whom we became a country. and ask yourselves what are the lessons of history? i don't study history because it's an interesting habit, i study history to better understand the present and the future so that i can be engaged in making history by being an intelligent, informed perp. that's what citizenship ought to be. and so what are some of the lessons? now, let me start with the fiscal cliff. and i'd ask a simple, obvious question. this is a very sophisticated group. how many of you have heard the term "fiscal cliff"? [laughter] okay. now, i want to say something which in washington will be seen at heretical and as gingrich once again going off and doing things that make no sense like the contract wit
the "fiscal cliff." ,, ,,,,,,,,,,,, fiscal cliff. the house and senate return to work tomor s reporter tara me >>> the clock is ticking as congressional leaders struggle to avoid the "fiscal cliff." the house and senate return to work tomorrow. cbs reporter tara mergener on what senate leaders are doing to come up with a last-minute compromise. >> reporter: house majority leader john boehner and senate minority leader mitch mcconnell were in the capital building today hoping to beat the deadline to the luge "fiscal cliff." >> got to get a deal? >> hope so. >> reporter: behind closed doors, senate leaders are cobbling together a pared down agreement that at least protects the middle class from tax increases january 1. it won't address deficit resit, across-the-board spending cuts or other issues. in both party addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay more. >> the president's tax hike would only fund the government for 8 days. americans deserve t
arwe're going over the fiscal cliff and lawmakers are just picturing about it, they are not trying to fix it. we have some great ideas to fix the fiscal cliff blues. try flying first class and don't pay for it. welcome to "the willis report." hello, everybody. i am gerri willis. tonight congress is pushing america up a fiscal cliff of its own making. president obama and the senate back in washington today trying to get some kind of a deal done, that is what they say, but nothing will likely come in time. harry reid spent the day moaning about how bad of a speaker john boehner is good the house is set to return sunday afternoon just one day before the end of the year. nearly 90% of americans will be hit with $500 billion in tax hikes and spending cuts. as we head off a cliff, what can you and your family expect come january 2? president of the american action reform joins me now. so, windows narrowing, what can we expect from here? >> if we literally go on autopilot and they fail to change course, i am worried about the economy. some sharp equity market attractions, consumer confide
is you should apply it to the fiscal cliff. i thought to myself, at the reagan library, what better place to go back to pirs principles. and since i have written three novel on george washington. what better part earn than to wave the two giants ronald reagan after whom the soviet empire desired and george washington after whom we became a country. what are the lessons of history. i don't study it because it's an interesting habit. i study to better understand the present and future engage in making history by intelligent and informed citizens. what are some of the lessons? let me start with the fiscal cliff. sky an obviously question. how many of you heard the term fiscal cliff? [laughter] i want to say something in washington which will be seen as her receipt call and gingrich going off and making no sense. the contract of america, the balanced budget, welfare reform. i participated my career, reagan's economics defeat of the society yef empire. i'm proud of the number of things i participated in that made no sense in washington. by thomas wolf. this goes book i think to the '60s when h
people and cut their heads off and it would not help the fiscal cliff. >> reporter: talk now of a smaller deal that extends bush tax rates for the middle class and extends unemployment benefits. but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small, kick the can down the road bill that creates another fiscal cliff to deal with with fiscal cliff. >> reporter: lawmakers are talking about how to retroactively avoid going off the fiscal cliff on a new congress. >>> the fiscal cliff debate is impacting people here in the bay area who's lives could dramatically change as soon as tomorrow. tom vacar is live at a highway work site in oakland and has the story of one woman and her looming fear. tom-- >> reporter: the people who work here are well paid and they're onvacaon. but for other people, the fiscal cliff might as well be a financial guillotine. though ilea thomas searches, she's been out of work for two years picking up any odd jobs as much as she can. >> it's been discouraging. i come in here three times a week and maybe i'll go to
: fiscal cliff. in more of that. okay? >> stop it. that does it for us. tonight is the big new year's eve special. happy and healthy new year. trace is here for shepard smith on "studio b" right now. >>trace: the news begins anew on "studio b" today. president obama moments ago taking the stage to say a deal on the fiscal cliff is in sight but no compromise so exactly where do we stand in what does it mean for your war let? secretary of state, hillary clinton, in the hospital, with a blood clot week after reportedly sustaining a condition cushion in a fall. we will have the latest on that coming up. al qaeda group in yemen offering a huge reward to anyone who kills the u.s. ambassador to that country. that's all ahead unless breaking news changes everything. this is "studio b." >> first from fox at 3:00, president obama says congress is close to striking an 11 the hour deal to keep our nation from plunging off the fiscal cliff but he says the two sides still have ground to cover and the time is running out. that one-two punch that will kick in, hours from now, on january 1, and if the pre
celebrates the fiscal cliff looms closer. and so does the dairy cliff? why we could soon see $7 a gallon prices for milk. ,,,,,,,, [ laughter ] smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. >>> and good morning everyone, of course it is christmas. december 25th. merry christmas everyone. i'm frank mallicoat. >> that's right and i'm elizabeth wenger, michelle has the morning off. >> and we begin somewhere some breaking news in the south bay. firefighters are at the scene of a three alarm fire in campbell. this is at the engineering building intersection of bell and division. no word on what may have started the fire. we will have the very latest information as soon as we get it but some live pictures there you can see a number of firefighters on the scene. and as we mentioned more coming up a little bit later. >>> okay. and we're going to i think start off with
days to go now until the country plunges over the fiscal cliff. both sides are trading blame. >> warning tonight to anyone with closet full of skinny jeans. do you have some of jeans. do you have some of snos doctors now say they could >> free parking on sunday in san francisco coming to an end soon this coming sunday is the last sunday that residents and visitors alike will not have to feed the meter. carolyn tyler has the story. >>reporter: think about starting to plug the meters on sunday. >> that's awful. that's awful. >>reporter: since the first first meeter installed in san francisco on bush and polk street back in the 1940's sunday have been a one day break. but that longstanding policy is over. >> this is a new day as far as parking management. we have notice that 70% of all businesses are open in san francisco on sunday and we really need an effective parking management plan in place. >>reporter: now starting january sixth from noon to 6:00 p.m. of the 29,000 plus parking meters throughout the city operated by the man pal transportation agency will be enfor
on the fiscal cliff. we're just five days until the country tumbles into automatic tax hikes and spending cuts. the president has scheduled a meeting tomorrow with congressional leaders. cbs 5 reporter danielle nottingham on efforts to break the jam in washington. >> reporter: top congressional leaders are expected to meet with president obama at the white house friday. this would be the group's first face-to-face meeting since november 16, and a last-minute chance to avoid the so-called fiscal cliff. if no deal is reached, taxes will go up for nearly every american. senators reconvened thursday with tensions spilling over onto the floor. each side accused the other of stalling. >> speaker boehner is unwilling to negotiate. we've not heard a word from mcconnell. nothing is happening. >> the phone never rang. and so now here we are, five days from the new year. and we might finally start talking. >> reporter: senate majority leader harry reid skewered house speaker john boehner, charging he's more interested in his leadership position than in bipartisan legislation. >> the speaker's no. 1 goal
on concerns about the fiscal cliff. but erasing earlier losses as news of the u.s. house will discuss the budget in a special talk sunday night. shares of oracle and cisco weighing down. tim cook is one of the companies taking a 99% pay cut this year that is not too bad. valued at $4 million but not getting stock awards last year. last year's check was $378 mill yichblt all the stock awards he got for the past decade.,ogzm that is a good number. >> yes. even for those in the media business, not so bad. we'll let you guys compare that to the calm we get in this business. >> that is what you call calm. >> he did a better year. >> thank you. >> well, sandhya patel in for spencer christian. >> more rain is coming. >> today's beautiful day. it's time to get umbrellas out.eç let me show you a live picture. i want to show you how gorgeous it looks. looking towards richmond bridge skpuk see wispy clouds out there. and really a beautiful day. here is what live doppler 7 is showing you. mostly sunny skies across the area here. we will be tracking more rain heading into your friday night. here
. >> the president says he's optimistic, congressional leaders promise avivement why the fiscal cliff compromise will be a cliff hanger. >> and a step back in time. how you can buy a piece of the past from your favorite ride. >> grieve, i'm elizabeth cook. >> a man and child pull from the waters and sadly, neither survived. the coast gash got the call of two people in the warter near point bonita. alyssa is there. >> reporter: the bodies were taken to fort baker. the man and young boy were at black sands beach. known for it's beautiful views of the city and treacherous surf. this stretch of coastline in sausalito is where a man and child were swept to sea and drowned. they were found floating under the golden gate bridge. late this afternoon, around 4:00, a third person who was taken out by the waves was able to get out of the surf and call 911. >> rescue united arrived and recovered two bodies, one male adult and one child. >> reporter: the water, a chilly 53 degrees. there was a high surf advisory. the beach is popular for fishing and picnics an it is dangerous with steep paths an rocks. it wa
francisco police >>> as this pushes up to the fiscal cliff, tax payers are saying their frustrating. how much a fall over the cliff could cost you. >> for more and more americans, the fiscal cliff is being used as a failure of government. >> i weigh i figure theépñ on vacation, they don't care. >> i don't think that there ever going to come to an agreement. both parties are so far apart, there's no common ground. >> if you make between $50,000 a year, it goes up. if you make 75 to $100, you'll pay $142 per weekly paycheck. most employers will wait and deduct at the current rate but you'll get slammed with higher rates. >> if they're supposed to be public servants and we can't get a compromise and some is with the right ideology. >> it seems like you're not being represented. you have interest that are overriding the people's concerns and i think that's an example of what happens in congress. >> the tax policy centers say the lowest income folks will see their take home paycheck shrink by 3.5% and average 4% and top earn ers about 6% but that says nothing of lost deductions or other unk
movement with regard to the lack of a solution on the fiscal cliff has been more of what we've seen not more of what we think we're going to see. i'm referring specifically to some of the special dividends, some of the tax issues, some of the buy backs, some of the way, you know, states and trusts are being manipulated and moved to deal with the potential worst case scenarios. i think in terms of the market our guests just referred to some of the volatility. you know, as congress called it a day or as the boehner bill didn't pass the plan b. but i remember the t.a.r.p. vote. that was some real movement. >> yes. >> we didn't have that type of movement. we still may. but i think in the end, i think especially the treasury markets focused on the bigger picture of all the issues that we need to address on reform and i think the equity markets definitely are fueled by some of those fed programs even though you know i'm not a big fan of them. >> you know what? it's interesting that you mention that. that is the expectation that we could see a move like we saw that day with t.a.r.p. when t
. >> lawmakers return to washington. we teeter on the edge of the fiscal cliff. what going over sit going to koflt you. >>> we have late word from washington on whether heroes of the first gulf war, commander of the international coalition that drove iraqi forces out of kuwait under the first president bush has died. he was 78 years old. he died in tampa, florida where he retired after serving as commander in chief of the u.s. central kmanld. he was a decorated combat soldier in vietnam. and u.s. officials confirmed the death but did not say how he died. >> people across the mid west are digging out from a giant winter storm that forecasters are warning there are more storms on the way. most occurred on roadways from nebraska to ohio. the storm dumped record snowfall in parts of the mid west, causing record cold throughout the south. travelers advised to expect delays returning home from the holidays. nearly 3,000 flights have been cancelled and 600 cancelled just today n new york one flight skidded off the runway. im 20s far below normal making recovery efforts difficult for victims of t
the country to go off the fiscal cliff to gain political points are lawmakers playing chicken with your taxes? >>> and a winter storm may be headed your way. who may be getting a white christmas and what it means for your holiday travels. we'll have all of that, coming up. good morning, everybody. welcome to early start. i'm alina cho in new york. >> and i'm dana bash in washington. john and zoraida are off. >> a developing story in afghanistan. an adviser to the afghan police has been shot and killed by a woman wearing an afghan police uniform. the latest in the series of green on blue insider attacks and our pentagon correspondent barbara starr joins us live with details on that. good morning. how unusual is this? >> well, alana, sadly this is a story we've report sod often during the year, haven't we? the details on this attack are different in one respect. as far as we know this is a case where a woman, an afghan woman in a police uniform conducted this shooting and killing. a contractor in cab uhl police headquarters. the nato alliance has already announced the incident but not said the
scrambles to avert the fiscal cliff. >> president obama asked congressional leaders to convene at the white house today. >> if the president and lawmakers cannot reach a deal economists warn that could trigger another recession. >> are they going to avoid the fiscal cliff, eric? >> the gulf war general known as stormin' norman has died. gen malnorman shwards cop of dread the coalition that drove saddam hussein's forces out of kuwait. >> the monster storm system finally moved out but some are bracing for another round of snow. >> more than 14,000 longshoremen are planning to strike on sunday the walk-out could affect ports from boston to houston. >>> for the second time this month a man has been pushed to his death in the path of a new york subway train. >> crazy people running the streets. >>> an uninvited guests slithered into a backyard in florida. >> somebody else got the shower on the sideline. >> jamal crawford who i think should be an all-star coming off the bench is dangerous. be still. >> and all that matters. >> hillary clinton plans to go back to
in sight to avoid the fiscal cliff. we'll tell you how president obama is pushing forward as the clock ticks. >> first this morning's tech bites. >>> in today's tech bites, amazon.com getting a present from shoppers, good review, survey puts amazon at the top of the list where it has been the past eight years. big jim in americans reading e-books, re-- research finds 16 and older red -- print reading drops from 72% down to 67%. salary of time cook dropped by 99%, his 2012 compensation 4.2 million dollars, far cry from the 378 million last year. steve jobs' famously collected a dollar a year. >> for the first time in its history voting for oscars online some voters are complaining the system is confusing and worried it could be vulnerable to it's time to change the way we clean. it's time to free ourselves from the smell and harshness of bleach. and free ourselves from worrying about the ones we love. new lysol power & free has more cleaning power than bleach. how? the secret is the hydrogen peroxide formula. it attacks tough stains and kills 99.9% of germs. new lysol power & free. powe
from san jose. ktvu. >> we are less than a week from the fiscal cliff. the united states senate convening right now. we want to show you a live if picture. there it is. that's the senate majority leader. the senators are right now meeting to discuss the economic deadline and coming up at 7:15 we will have more on the fiscal cliff negotiations and how we are closing in on another financial barrier, that debt ceiling. >> let's go to tara filling in for sal. there is another accident in napa. >> we have a two car crash on napa road. that person is trapped inside of the car. chp working to get them out as well as police. we have another incident we want to mention. 880 northbound at 92 split. a solo spin out. it's close to traffic so they are running a break. here is a look at maps where 680 southbound, actually we will go to 101 in san francisco. you can see we have traffic flowing nicely in both directions. finally a look at maze. you can see traffic also flowing very well there on the far right hand side of the screen. let's check in with mark. >> good morning to you. we are t
fell for their fourth straight session. that dour outlook on the fiscal cliff from senator harry reid sent stocks tumbling but they came off the session lows following word the house would reconvene this weekend. the dow lost 18 points. >>> jitters over the fiscal cliff sent the fear index or the vix leaping yet again. it hit the highest level since july. the vix is up 30% over the last month. >>> apple's tim cook is getting a 99% cut in compensation this year. cook will take home $4.2 million compared to 378 million bucks in 2011. apple made clear the decline has nothing to do with performance. cook's sky-high 2011 pay package was largely award of one million restricted shares of stock after he took the reins at apple as ceo. that money would come in handy in washington, wouldn't it? that is our top story. the senate convened today for emergency session to deal with the fiscal cliff. the house has announced plans to reconvene on sunday. both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff d
vacation to deal with the fiscal cliff, just five days to go until we go over. >> threatening both coasts with workers snubbing up best and final contract offer. >> and more on the home front. we'll have more on the data and whether it can keep one of the best performing sectors of 2012, home builders going in 2013. >> data showing what some experts say is the slowest growth in spending since the 2008 recession. according to mastercard, spending polls units through christmas eve, retail sales rose just .7% from the year before. the national retail federation says it is forecasting a 4% jump in sales. we'll continue to get trickles of data as we progress through this last week. it is still an important week, the final week before the new year in terms of retail sales for these guys. >> historically positive the last five days of the year and blends into the first couple of days of the new year. generally get a nice year-end effect. we'll get claims tomorrow. new home sales tomorrow. chicago pmi on friday. but this idea that retail is soft, was it the fiscal cliff? was it sandy? was it some
. >>> the dreaded fiscal cliff can potentially affect a wide range of health programs. >> cbs news' wyatt andrews explains. >> reporter: professor mallen like hundreds of medical researchers has already fallen off the fiscal cliff. her budget which relies on federal grants is being cut by 10% now. as the nih, the national institutes of health, prepares for the possibility of budget cuts later. >> it's as much bigger than just my lab. it's affecting all-academic labs across the country. >> reporter: mallen understands the nih decision but calls it a setback. >> my lab will have to shut down research projects that we know would -- could have profound impacts on curing human disease. we may have to get rid of some staff members. >> reporter: the nih tells us because of uncertainty in the budget awards at 90% of what was perhapsed to researchers -- promised to researchers will be the standard at least for now and the threat of the cut raised alarms. >> some of the cuts -- >> reporter: at johns hopkins the doctor is under pressure to reduce the experiments he designed in mice in search for a cure for
house to avoid the fiscal cliff. president obama and congress it will be thursday before talks resume to try and prevent automatic tax hikes and spending cuts from taking effect january first. andrew spencer has the latest. >> some republican lawmakers say old, once the country to fall off the physical cliff. >> we have gone over the cliff now, later, the fiscal cliff-you cannot negotiate with some of that does not want to negotiate. >> john boehner failed to get enough votes were planned beat that would raise taxes for people earning more than $1 million. the speaker, and the president left town without making a deal. >> i have passed leaders of congress to work together to create a deal to protect and employment for 2 million americans, protect middle america the middle income americans and also work on deficit reduction. >> the president solution would still leave red ink as far as the eye could see. and difficult for jobs. >> this is it difficult for the brink of perpetual gridlock. >> this is likely that we will go over the fiscal cliff and not and if we allow that to happen. wou
on wednesday in hopes of coming up with an agreement for the fiscal cliff. >> reporter: some republican lawmakers say president obama wants the country to fall off the fiscal cliff. >> we were going to go over the cliff before, we're going to go over the cliff now because that's what the president wants. you cannot negotiate with someone who doesn't want to negotiate. >> reporter: that would raise taxes on people making more than $200,000 a year. each making a parting pitch. >> i've asked leaders of congress to work toward a package that prevents a tax hike on middle class americans, prevents unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs. >> the partisan bickering has put the country on the brink of a financial crisis. >> it's the first time that i feel it's more likely that we will go over the cliff than not. and that if we allow that to happen it will be the most collosal consequential
. . >>> at 5:30, we are inching closer to the so-called fiscal cliff. we spoke to congressional staffers today, why they believe politicians will allow the country to go over the cliff before making a deal. >>> officials in newtown, connecticut, plan to use the flowers, letters and other mementos sent by the public as part of the memorial. they will stay up until after new year's as residents and visitors pay their respects to the shooting victims at sandy hook elementary school. residents yesterday took turns monitoring candles that had been lit on christmas eve, one candle for each of the vils. >>> this los angeles today, gun owners could swap weapons for groceries. gun owners were asked to come with unloaded weapons in the trunks of their vehicles in exchange for a $100 gift certificate for groceries. they got a $200 gift certificate if they turned in a so-called assault weapon of the buy-back program happens in the spring but was moved up this year because of the school shooting in connecticut. >> a newspaper that covers two counties north of new york city is at the sfr of a controversy af
on that? >> as mike reported president obama is looking to break the fiscal cliff negotiations by giving an ultimatum to republicans either compromise on the budge deal or risk facing an up or down vote in the senate on a basic proposal that would include many elements that were previously rejected by the g.o.p. how well the next couple of display out and will the president's tactics work? joining us is jamie weinstein. what do you think of that? >> i don't know if his threats are going to work very much because even his proposal has to have the acquiescence of all senators. the fact of the matter is senators know whether they do something or not the next day after the fiscal cliff there is going to be a bill in congress to lower tax rates after all the tax rates expire below $250,000. maybe at this point it looks like the big win that the republicans might get, if you want to call it that, is extending that slightly upwards to $400,000 or $500,000. this is bare bones deal. we're not solving our fiscal approximate and not discussing it. this is going to be fought another day, perhaps in
in on gun control, democrat doug shulman also discussed the fiscal cliff and what happens next. >> our republican colleagues, by refusing to go along with revenues are risking the fiscal cliff. the big chance for a big deal is at the debt ceiling. that is when we will have leverage to turn the country around, prevent it from becoming greece and save social security and medicare. >> before leaving for hawaii for the holidays, obama urged congress to come up with a deal before the christmas break. many spent today navigating the parking lots of packed stores and shopping malls for final gifts. some had a really good reason for hitting the stores in these final hours before christmas. >> i have a baby that is due christmas morning. so i came out here to do some last-minute shopping. it is tough to shop during the holidays, especially right before christmas because, again, you miss out on deals. >> a recent poll found 132 million people had not finished their holiday shopping and 26 million had not even began. many retailers will be open christmas eve late to accommodate them. the pope spo
's a race against the clock. the last-minute effort to prevent the u.s. from going over the fiscal cliff before the deadline of midnight east coast time. >> reporter: new year's eve partiers who want to leave their cars behind will have a lot of options. we'll tell you about the different transit agencies offering free rides this evening. "mornings on 2" starts now. >>> well, good morning to you. i'm dave clark. >> i'm tori campbell. it's monday, december 31st, new year's eve. in overnight news, san francisco firefighters had their work cut out for them when a natural gas line burst outside an apartment that was on fire. flames shot in the air on athens around 1:00 this morning. ktvu's alex savidge joins us live from the scene with video you will only see on channel 2. alex? >> reporter: well, good morning. the fire inside of that home is what triggered a second fire that came from the curbside gas valve right outside the home. that's why you see pg&e crews still doing last-minute repair work to patch up the road where they had to dig things up to access that line. that second fire comin
. >>> and we're live in washington watching last-minute negotiations for the fiscal cliff -- at noon. >>> it appears that an agreement to prevent this new year's tax hike is within sight but is not done. >> a little more than an hour ago, the president said he's optimistic that the u.s. economy will not go over the fiscal cliff. that's one of the top stories this noontime. good afternoon. i'm david stevenson. >>> we begin with developing news at this hour. san jose police are investigating the city's 46th homicide of the year. it happened at an apartment complex on lewis road off monterey highway and janine de la vega joins us from the scene. janine, we understand police may no who may be responsible -- may know who may be responsible. >> reporter: that's right. they have two adult males detained and they are questioning them and treating them as persons of interests. homicide detectives are here at the sulker breeze apartments. all of the activities seem to be centered around a parking garage. just before 9:30 this morning, they received a 911 call that a man with a gun was at the -
's a lot of apprehension about the future of our economy because of the fiscal cliff. and three, people are very good about waiting for those bargains. >> reporter: some are still waiting tonight. they're on the look out for the best after christmas sales. >>> those lackluster holiday sales and jitters over the fiscal cliff brought stocks down today. the dow dropped 24 points. >>> the fiscal cliff is weighing on the minds of consumers. coming up in 16 minutes, why political insiders believe washington will allow the country to go over the cliff before making a deal. >>> san francisco police are asking the public to take a closer look at three shoplifting suspects. investigators say on december 20. three women went into two stores near san francisco. the women put goods in their own bags and walked out of the stores, and apparently handed off the goods. >> we believe these women may have been involved in other burglary thefts of retail stores throughout the bay area. >> police arrested sharony powers on suspicion of shoplifting. >>> alameda police are investigating a stabbing during a ch
: the "fiscal cliff" is still a few days away. but business owners don carlino says he is already feeling the impact. >> a lot of our customers are holding back. they are apprehensive. they are not committing to projects. they're not --you know, they are waiting to see what's going to happen with the "fiscal cliff." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only
on the fiscal cliff. senate leaders are working on a last ditch agreement. they hope to vote as soon as tomorrow. both houses will reconvene tomorrow. some republicans suggest racing taxes for those earning at least a million, the president and democrats want increases on making more than $250,000 a year. >> we can't afford a politiclyself inflicted wound to the economy. the economy is growing but keeping that way means the folks you sent to washington have to do their jobs. >> the president said congress must meet the new year's deadline and pass a balanced plan. >> the president's proposal to raise taxes on the top 2% won't even pay one third of the interest that's owed on this 16 trillon dollar debt. >> ouri senator gave the gop address saying the president's tax hike would only fund the government for eight days. >> here is what could happen if no deal is reached. out of work americans will loose their extended benefits, california would be hit the hardest, 400,000 will loose benefits and the bay area will certainly feel the sting, more than 22,000 people in alameda and contra costa coul
as the country moves forward with the budget and fiscal cliff negotiations and there are payoffs down the road for expenses today. host: caroline ratcliffe, the urban institute, and alisha coleman-jensen of the u.s. department of agriculture, social science analyst. thank you for being with us. withwe have coverage on a websie about the fiscal cliff. we will learn later today as the principles gather at the white house for a meeting that will get underway at 3:00 p.m.. the president, vice president, john boehner, nancy pelosi, and harry reid and mitch mcconnell and if there are any statements after that meeting, and if the president has anything to say, we will have coverage of that on c-span and on c-span radio and always on c-span.org. thank you for joining us and enjoy the rest of your weekend. we'll be back tomorrow at 7:00 a.m. eastern time. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> in live look at the executive mansion where negotiations on the looming fiscal cliff move down pennsylvania avenue to the white house t
hosting uconn in women's hoops. i'm colin rush. have a great day everyone. >> katie: next the fiscal cliff-hanger, senators could vote on plan to save the country from the fiscal cliff on sunday but so far hopes have lawmakers striking deal haven't been met. and local high school band making history in the tournament of roses parade. >>> developing news out 6 moscow where a jetliner caught fire killing two people on board. twin engine jet went off the runway and broke apart and caught fire. news reports say about a dozen people were on board and several of them were seriously injured. it was a ministry spokesman that confirmed two people died. >>> in washington, senate a lot leaders are hoping to come up with a compromise they can send to the house tomorrow to avoid the fiscal cliff. lisa stark has the latest. >> there is nothing like a deadline to force action. the president met with congressional leaders for the first time in six weeks and then proclaimed himself modestly optimistic. >> they are watching what we are doing here. their patience is always thin. >> with the clock running out
a deal on the fiscal cliff. however, chief white house correspondent ed henry tells us that washington may have to set with a backup plan to the backup plan. >> christmas tradition for president obama. he and first lady michelle obama saying thanks at the marine corps base hawaii. >> so many of you make sacrifices day in and day out on behalf of the freedom and behalf of the security. >> now the president is giving up some vacation time rushing back to washington aboard air force one late tonight to deal with the looming fiscal cliff. after that red eye, the president will no doubt need coffee. starbucks decided to get political in the washington, d.c., shops, by having employees write come together on cups. ceo howard schultz writing in open letter, "my hope is the simple message will serve as holiday reminder from starbuck of the spirit that bridgeed differences and we have the power to come together and make a difference in every season of the year." the president and speaker john boehner have not spoken in nearly a week. when the house republicans convene conference call today, all
of washington this yore, not with the pending fiscal cliff and the threat of a $7.5 billion in nonentitled services is. >> that fiscal cliff will hurt the city to the tune of almost $80 million right away. >> reporter: most of the cuts would be in health care, aids programs and housing. >> that's just an immediate hit. >> reporter: across the bay alameda county supervisor predicted -- >> our health clinics will get hut. our w. i. c. program which is a program for mothers they get nutrition for their newborn babies and we have several sites in alameda county that would also experience a large cut. >> reporter: education would also take a hit. >> this would undo a lot of the good a lot of californians are willing to invest in the schools. perhaps as much as 10% for the special needs students and the meals program that so many of the students in georgia are growing up -- california are growing up in poverty and they need that meal. >> reporter: it's not just the immediate cuts that worries the local officials, it's also the ongoing uncertainty that comes from the stalemate in washington. a st
the fiscal cliff but what about the dairy cliff. how washington gridlock could drive up the price of milk. >> protecting you from drunk drivers. >> but we need to do more to save lives. >> the device >>> federal tax cuts aren't all that's expiring on january 1st so is the farm bill. that means that milk prices could double. debora villalon is live to explain. >> reporter: this sunday sets you back $6, $12 probably too rich. this family with a sweet tooth is sour on the idea of higher milk prices. >> we go to about 2-gallons of milk a week. >> reporter: but if lawmakers don't extend the tax bill it reverts to 1949 law when the government not the market controlled prices and the dairy industry wasn't nearly as efficient as today. under those antiquated formulas a gallon of milk now under $4 most places could rise to $6 even $8 retail. >> you think about the fiscal cliff and they talk about, okay we're going to get a deal done and it might not be perfect. but you definitely don't expect the price of milk to double. >> the risk of this happening is quite slim. >> reporter: experts down play t
then the service will be restored. >> we talk about the fiscal cliff - but there could also be a 'dairy cliff'. beginning next year, you could pay as much as seven dollars for a gallon of milk. a stalled farm bill means certain protections for farmers are expiring. a dairy subsidy ends january first. if congress doesn't act before then, the u-s would revert to a 63-year-old dairy policy. it would force the government to buy milk at inflated prices, driving up the cost for everyone. we will be right back on the kron 4 morning news. first, let us take a look at the san francisco's skyline good is a post card morning. cold your forecast, coming up. factory weekend o after a snows over the weekend of sierra have been clear. and several ski resorts around lake tahoe are reporting record amounts of fresh powder. kron 4's charles clifford has an update on conditions this is along highway 50 in the salt lake tahoe with fresh power itself lake tahoe. >> all i just heard that charles clifford mentioned that we are going to see some of snowfall. and he also mentioned that this is one of the most snowies
>> warner: as congress comes back to washington to resume fiscal cliff negotiations, we ask, what happens if they don't reach a deal? >> ifill: we talk with a representative of egypt's muslim brotherhood about the new brotherhood-backed constitution signed into law today. >> warner: and we have another of our conversations with retiring members of congress. paul solman sat down with the always outspoken massachusetts democrat barney frank. >> the notion that people would not go along with an important public policy because i hurt their feelings, i don't think that's true. >> ifill: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: a major winter storm surged into the midwest and northeast, fouling flight schedules and ruining road conditions on this day after christmas. the huge weather system
going over the fiscal cliff. >>> plus how bay area transit agencies hope to make this a safe new years eve. ktvu channel 2 morning news continues. >>> good morning. it is monday december 31st i'm tori campbell in for pam cook. >> and i'm dave clark. let's check weather, traffic, steve is right there. you'll need a few minutes to warm up the car. >> for most. there is a couple inland definitely. some 40s near the city and around the bay. inland there is a lot of 30s and upper 20s. mostly sunny, partly cloudy. that system coming in will spin in higher clouds. upper 40s low 50s. here is tara. >> thanks steve. this is a look at the bay bridge toll plaza where you can see traffic moving nicely into san francisco. and this is a look at the san mateo bridge where you can see the same story. traffic on the right heading toward the foster city. opposite side toward hayward. let's head over to dave and tori. >>> now we are hearing from neighbors in san francisco. those that were awakened by an early morning house fire and broken gas line. ktvu alex savidge is at the scene and i know you have vid
back from the fiscal cliff why congress may be selling the new year on capitol hill. >> first america's money report. >>> good morning. topping america's money, last minute shopping, many shoppers haven't finished. consumer reports says 17 million will be shopping today, more than 60% will throw in the towel and get those gift cards. so far, a quiet holiday season at the malls, analysts say shoppers are worried about the budget stalemate in washington delayed by superstorm sandy and depressed by the connecticut school shooting. retailers hope today will make up for that many federal workers have more time to shop, president obama gave them today off, many government offices are closed. financial markets closing early as are most post offices. the hobbit topped box office again for the second straight weekend, it took in 37 million dollars more than double any other movie even though many did their last minute shopping instead that's . >>> just about 5:14 thank you spore spending your christmas eve with us. live look towards san francisco, beautiful lights, bay, rain is going to take a
to the fiscal cliff. in less tha >>> funeral services interrupted when a car careens into the funeral home. what the teens in the car were doing before impact. >> edging closer to the fiscal cliff. less that 24 hours, millions could lose unemployment benefits and nearly everyone's taxes can go up. >>> nobody expected a massive rescue when one man, could not sweupb, fell into the ice into frigid water. how six people ended up being pulled from that water. >>> good evening. an out of control car goes into a funeral home. it was at the scene where the crash disrupted a funeral in progress. >> 5 feet that car came from us. >> reporter: a close call for a group of funeral attendees. a car crashed into the service. >> five seconds after i entered the side room we heard what we thought was a earthquake and turned around and saw the car goes through the front of the building -- go through the front of the building. >> reporter: the speed limit along the road is 40 miles an hour. the teenage driver was going over that. possibly racing the other car. >> during the course of the speed contest there my ha
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